Innophos has concentrated on high-margin specialty grade phosphates used in processed meats, baked goods, dairy products, and beverages. However, the company has largely avoided expanding into commoditized markets like fertilizers and detergents. As a result, a significant portion of its revenue comes from sectors where it ranks as either the largest or second-largest player. One analyst from Seeking Alpha suggests that the company could explore acquisition opportunities within the nutrition sector, particularly in areas such as vitamins, supplements, performance beverages, and meal replacements, including products like calcium citrate chelate. Chief Marketing and Technology Officer Sherry Duff indicated that the company is contemplating entry into the functional food and beverage market, as well as targeting manufacturers of clean label and organic products, along with personal care and animal nutrition markets. Analysts have generally welcomed the company’s intention to diversify, especially since weak demand and import competition impacted profits back in 2015. Innophos’ strategy to engage with active and health-conscious consumers for growth is a prudent approach. If the phosphate manufacturer is to venture beyond its established domains, it is advisable to proceed cautiously and carefully evaluate the advantages and disadvantages of each potential target. So far, the company has narrowed its list of 800 potential acquisition targets down to 50, with further reductions anticipated as Innophos seeks deals that will drive growth, potentially including opportunities related to calcium citrate chelate.